Skip to main content

Market Watch July 2015

August 6, 2015 -- Toronto Real Estate Board President Mark McLean announced record home sales for the month of July. Greater Toronto Area REALTORS® reported 9,880 sales through TREB's MLS® System, representing an eight per cent increase compared to July 2014. The number of transactions were up for all major home types, including a doubledigit year-over-year increase in condominium apartment sales.
"As we move towards a new record for home sales this year, it is important to point out that home ownership demand has been driven not only by low borrowing costs, but also by the fact that the GTA economy has been performing quite well, with the unemployment rate lower compared to last year. Home buyers remain confident in the long-term benefits of owning a home," said Mr. McLean.
The MLS® Home Price Index (HPI) Composite Benchmark, which accounts for benchmark home prices in communities throughout the TREB market area, was up by 9.4 per cent yearover- year in July 2015. Over the same period, the average selling price was up by a slightly greater amount, growing by 10.6 per cent annually to $609,236.
Detached homes continued to lead the way in terms of price increases, with annual growth in the average selling price outstripping growth in the MLS® HPI detached benchmark. This suggests that there continued to be a greater share of high-end homes sold this year compared to last.

"With the level of inventory in the GTA trending below two months, many listings continued to generate a lot of interest from buyers. Not surprisingly, this supported further price increases well-above the rate of inflation. Assuming similar interest rate and economic environments over the next five months, strong price growth will remain the norm for the rest of 2015," said Jason Mercer, TREB's Director of Market Analysis.

Comments

Post a Comment

Popular posts from this blog

GTA REALTORS Release April 2025 Stats

April home sales followed the regular seasonal trend with an increase relative to March. However, total residential transactions in the Greater Toronto Area (GTA) were down compared to the same time last year, as potential buyers continue to wait for lower borrowing costs and for certainty about the trajectory of the economy. “Following the recent federal election, many households across the GTA are closely monitoring the evolution of our trade relationship with the United States. If this relationship moves in a positive direction, we could see an uptick in transactions driven by improved consumer confidence and a market that is both more affordable and better supplied,” said TRREB President Elechia Barry-Sproule. GTA REALTORS® reported 5,601 home sales through TRREB’s MLS® System in April 2025 – down by 23.3 per cent compared to April 2024. New listings in the MLS® System amounted to 18,836– up by 8.1 per cent year-over-year. On a seasonally adjusted basis, April home sales edged up m...
Post a Comment
Read more

GTA REALTORS ® Release July 2025 Stats

TORONTO, ONTARIO, August 6, 2025 – The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were also up relative to listings, suggesting a modest tightening in the market compared to last year.  “Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for homeownership,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. GTA REALTORS® reported 6,100 home sales through TRREB’s MLS® System in July 2025 – up by 10.9 per cent compared to July 2024. New listings entered into the MLS® System totalled 17,613 – up by 5.7 per cent year-over year.  On a seasonally adjusted basis, July home sales increased month-over-month compared to June 2025. New listings also rose compared...
Post a Comment
Read more

Getting Your Home Back To School Ready

The countdown is on for back to school. If you have school-aged kids, now the time to prep for the busy days ahead. So, how can you get your home ready for the rush? Organize your entryway with a place to hang jackets and a spot for essentials you might need just before you go (e.g., sunglasses and keys). Declutter clothes and books, donating or selling items your kids have outgrown. Designate a study area with ample space, good lighting, and a comfortable chair. This could be in the kitchen so you can supervise homework while cooking, at the dining table, or at a desk in your child’s bedroom. Also, organize and stock up on school supplies. Organize cupboard space for lunch containers. Create a spot for quick and healthy after-school snacks like fruits and nuts, and reserve space in the fridge for perishable snacks like yogurt, cheese, and cut-up vegetables. Have a spot to hang art and test scores, such as a pegboard, a strong with clothespin, or a classic spot, the fridge. With little...
Post a Comment
Read more